New York real estate titan likens the phrase ‘tax the rich’ to racial slurs
Summary
Steve Roth, a New York billionaire and CEO of Vornado Realty Trust, said the phrase “tax the rich” is hateful and compared it to racial slurs. He criticized New York Mayor Zohran Mamdani for targeting billionaire Ken Griffin with a new tax on expensive second homes and praised the wealthy for their role in the economy.Key Facts
- Steve Roth called the phrase “tax the rich” hateful and compared it to offensive racial slurs.
- Roth is the CEO of Vornado Realty Trust and has paid $560 million in real estate taxes this year.
- Roth supported fellow billionaire Ken Griffin, who was singled out by Mayor Mamdani for a new tax on second homes over $5 million.
- The new tax is New York State’s first “pied-à-terre” tax, targeting expensive second homes.
- Roth praised the wealthy, saying they create many jobs and pay half of New York’s income taxes.
- Roth has supported President Donald Trump since 2016 and donated to Andrew Cuomo’s campaign.
- He suggested that Griffin could help elect candidates with similar views to protect wealthy interests.
- Roth acknowledged Mamdani’s energy and potential to improve the city but disagreed with his tax approach.
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